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Simulation: Private University Statement of Activities Complete St. Isidore University's Year 2 statement of activities using the information above. Enter the appropriate amounts in the designated lines below. If no entry is necessary, enter a zero (0). St. Isidore's is a private university NFP that began offering classes during January of Year 1 . It is in the process of raising money to finance its operations and thus derive much of its revenue from voluntary contributions from the general public. The University reports contributions with restrictions that expire in the same period as net assets without donor restrictions. Selected transactions that occurred during St. Isidore's Year 2 calendar year: - Unrestricted written promises to contribute cash--Year 1 and Year 2 - Written promises to contribute cash restricted to use for scholarships--Year 1 and Year 2 - Written promise to contribute $25,000 if matching funds are raised for the capital campaign during Year 2 - Special event music festival hosted by the University to raise additional funds. The festival is not considered to be a significant part of the University's activities - Reading materials donated to St. Isidore's and distributed to children in Year 2